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Reputation in the Market for Stolen Data

Author

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  • Andrew Mell

Abstract

Internet commerce has made it easier to compare prices and shop online. However, it has also exposed consumers to a new kind of crime in the form of the electronic theft of payment details. However the skills required to successfully intercept payment data differ from the skills required to use that information for one’s own gain. This creates gains to trade between those who steal the data and those who know how to use it. This particular illicit market has the added disadvantage that trade takes place online and the only identification of any paticular trader comes from a username which can be changed at zero cost. This paper examines the reputation mechanisms that keep this market working and considers whether they might constitute an Achilles’ Heel that governments keen to reduce crime might exploit.

Suggested Citation

  • Andrew Mell, 2012. "Reputation in the Market for Stolen Data," Economics Series Working Papers 611, University of Oxford, Department of Economics.
  • Handle: RePEc:oxf:wpaper:611
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    File URL: http://www.economics.ox.ac.uk/materials/papers/12045/paper611.pdf
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    References listed on IDEAS

    as
    1. Jonathan Lusthaus, 2012. "Trust in the world of cybercrime," Global Crime, Taylor & Francis Journals, vol. 13(2), pages 71-94, May.
    2. Michihiro Kandori, 1992. "Social Norms and Community Enforcement," Review of Economic Studies, Oxford University Press, vol. 59(1), pages 63-80.
    3. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, Oxford University Press, vol. 84(3), pages 488-500.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Reputation; Illicit trade; Illegal behavior and the enforement of law;

    JEL classification:

    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • Z18 - Other Special Topics - - Cultural Economics - - - Public Policy

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